China to rebuild oil stocks at 400k bpd from November
The Chinese government-owned refineries plan to gradually replenish their oil inventories over the coming months, aiming to ensure energy security and reduce the impact of rising prices caused by the ongoing conflict between the United States and Iran. China is expected to add 400,000 barrels per day to its reserves between November and April, after withdrawing from its stockpile last year to cope with soaring prices. Beijing is now managing its reserves centrally, extending the replenishment period to between 3 and 5 months in order to ensure the continuity of domestic supplies, reduce reliance on purchasing from the market at high prices, and maintain its trade relationships without imposing a comprehensive export ban on fuel.
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